An informed trader said that the Bank of India sold the US dollar in the local foreign exchange market to support the rupee exchange rate. These traders requested anonymity because they were not authorized to speak publicly about the matter. USD/INR rose 0.1% to 95.8750. The rupee depreciated by more than 6% this year, underperforming most Asian currencies.

An informed trader said that the Bank of India sold the US dollar in the local foreign exchange market to support the rupee exchange rate. These traders requested anonymity because they were not authorized to speak publicly about the matter. USD/INR rose 0.1% to 95.8750. The rupee depreciated by more than 6% this year, underperforming most Asian currencies.